In October, almost half of the real estate was purchased by non-Cypriots. The number of property sales contracts rose by 6% compared to the sales of the same month in 2017. These figures show that the economy develops fast and the Cypriot citizenship by investment programme works well. A total of 403 real estate sales contracts were registered in October by foreigners. 257 buyer were non-EU citizens, and 146 arrived from Europe, according to official figures published by the Department of Lands and Surveys. Still, Paphos is the foreigners' most fashionable district, and they bought 180 real estates there. Limassol and Larnaca also welcome more homeowners from abroad. During the first ten months of 2018, 2,439 non-EU citizens bought real estate, commercial property or land in Cyprus. Interestingly Paphos remain the most popular among EU nationals, and Limassol is favoured by the majority of the third country citizens, according to the Cyprus Property News. The demand for high-end properties has been increasing continuously since 2014, following the revisions of the citizenship by investment programme. During the first six months of 2018, 131 high-end residential real estate transactions happened in Cyprus, and it means an eight per cent increase, compared to the same period of the last year. In Cyprus, real estates with a value of at least 1,5 million euros count as high-end properties. However, 80 residential properties from the 131 transactions exceeded the minimum requirements and were sold between two and three million euros. Only 20% of these real estates are villas the rest are apartments. According to local experts, asked by the Financial Mirror the interest is increasing from investors from the Middle Eastern countries and China. The experts at Discus Holdings' local office in Cyprus will guide you through the investment and immigration process. Read here all the detailed information on the Cyprus citizenship by investment scheme!

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